In the GMP partnership (to which Elan seeks admittance), the capital balances of Mary, Gene, and Pat, who share income in the ratio of 6:3:1, are Mary Gene Pat $ 264,000 132,000 44,000 Required: a. If no goodwill or bonus is recorded, how much must Elan Invest for a one-third interest? b. Prepare journal entry for the admission of Elan if she Invests $80,500 for a 20 percent interest and goodwill is recorded. c. Prepare journal entry for the admission of Elan if she Invests $201,000 for a 20 percent interest. Total capital will be $641,000; the partners use the bonus method. Complete this question by entering your answers in the tabs below. Required A Required B Required C If no goodwill or bonus is recorded, how much must Elan invest for a one-third interest? Note: Do not round intermediate calculations. Elan must invest Required A Required B Required C Prepare journal entry for the admission of Elan if she invests $80,500 for a 20 percent interest and goodwill is recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. View transaction list Journal entry worksheet A Record Elan's investment of $80,500 for a 20 percent interest. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal Prey 4 of 6 Next Required A Required B Required C Prepare journal entry for the admission of Elan if she invests $201,000 for a 20 percent interest. Total capital will be $641,00 partners use the bonus method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. View transaction list Journal entry worksheet sl